Janus Buys Fostung Tungsten Property From EMC Metals Corp.
June 14 2011 - 3:44PM
Marketwired
Janus Resources, Inc. (the "Company" or
"JANI") (OTCBB: JANI) is pleased to announce the purchase of
the Fostung tungsten property, located in Foster Township, Sudbury,
Ontario, Canada, from EMC Metals Corp. ("EMC"). The sale price was
$500,000 cash, for 100% of the property rights.
The Fostung tungsten property was originally discovered and
staked by local prospectors in 1966. Union Carbide Corporation
("UCC") optioned the claims in 1978 and pursued a large tonnage,
lower grade skarn deposit with an exploration program that
represents most of the money and work that has been expended
throughout the property's history. Breakwater Resources Ltd.
("Breakwater") of Toronto, Canada optioned the property from UCC in
1988, and subsequently sold the property to EMC Metals Corp.
(Golden Predator Corp.), in 2007. An independent National
Instrument 43-101 technical report and resource estimate on the
property was prepared in November of 2007 by SRK Consulting, of
Lakewood, Colorado. That initial resource report presented an
inferred resource estimate of 12.4 million tonnes, grading 0.213%
WO3, with a cut-off grade of 0.125%. SRK based this estimate on
data from a total of 43 diamond core drill holes and an aggregate
of 9,185 metres of drill results.
The property was subject to a production bonus payable to
Breakwater, which was renegotiated from a common share payment to a
straight cash payment of $500,000, and which has been assumed by
Janus. A 1% Net Smelter Return royalty on the property, also
payable to Breakwater, has also been assumed by Janus.
About Janus Resources, Inc.
Janus Resources, Inc. is a mineral exploration and development
company focussed on the acquisition and development of advanced
mineral properties.
About EMC Metals Corp.
EMC Metals Corp. holds the Nyngan Scandium property in a Joint
Venture with Jervois Mining Limited of Melbourne, Australia.
EMC also holds the Springer Tungsten property in Nevada, USA,
and the Carlin Vanadium property, near Carlin, Nevada.
LEGAL NOTICE REGARDING FORWARD-LOOKING
STATEMENTS
No statement herein should be considered an offer or a
solicitation of an offer for the purchase or sale of any
securities. This release contains forward-looking statements that
are based upon current expectations or beliefs, as well as a number
of assumptions about future events. Although Janus Resources, Inc.
(the "Company") believes that the expectations reflected in the
forward-looking statements and the assumptions upon which they are
based are reasonable, it can give no assurance that such
expectations and assumptions will prove to have been correct.
Forward-looking statements, which involve assumptions and describe
our future plans, strategies, and expectations, are generally
identifiable by use of the words "may," "will," "should," "could,"
"expect," "anticipate," "estimate," "believe," "intend," or
"project" or the negative of these words or other variations on
these words or comparable terminology. The reader is cautioned not
to put undue reliance on these forward-looking statements, as these
statements are subject to numerous factors and uncertainties,
including but not limited to adverse economic conditions, intense
competition, lack of meaningful research results, adverse federal,
state and local government environmental regulation, inadequate
capital, unexpected costs and operating deficits, increases in
general and administrative costs, termination of contracts or
agreements, price fluctuations, price increases for supplies,
litigation and administrative proceedings involving the Company,
the possible acquisition of new properties that result in operating
losses or that do not perform as anticipated, unanticipated losses,
the possible fluctuation and volatility of the Company's operating
results, financial condition and stock price, losses incurred in
litigating and settling cases, dilution in the Company's ownership
of its business, adverse publicity and news coverage, inability to
carry out exploration, development and commercialization plans,
loss or retirement of key executives, inflationary factors, and
other specific risks. There can be no assurance that further
exploration of the Company's properties will result in the
discovery of commercial reserves. In addition, other factors that
could cause actual results to differ materially are discussed in
the Company's most recent Form 10-Q and Form 10-K filings with the
Securities and Exchange Commission. These reports and filings may
be inspected and copied at the Public Reference Room maintained by
the U.S. Securities & Exchange Commission at 100 F Street,
N.E., Washington, D.C. 20549. You can obtain information about
operation of the Public Reference Room by calling the U.S.
Securities & Exchange Commission at 1-800-SEC-0330. The U.S.
Securities & Exchange Commission also maintains an Internet
site that contains reports, proxy and information statements, and
other information regarding issuers that file electronically with
the U.S. Securities & Exchange Commission at
http://www.sec.gov. The Company undertakes no obligation to
publicly release the results of any revisions to these forward
looking statements that may be made to reflect the events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
For additional information please contact: Janus
Resources Inc. Investor relations: 800-755-5815 EMC Metals
Corp. Investor Relations: (604) 648-4653 Email Contact
RenovaCare (CE) (USOTC:RCAR)
Historical Stock Chart
From Jan 2025 to Feb 2025
RenovaCare (CE) (USOTC:RCAR)
Historical Stock Chart
From Feb 2024 to Feb 2025